v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Operating Activities:          
Net Income     $ 30,397 $ 18,504  
Adjustments to reconcile net income to net cash provided by operating activities:          
Provision for credit losses $ 528 $ 2,269 2,122 2,570  
Depreciation     3,036 2,305  
Amortization of intangibles     3,119 1,172  
Net amortization of security discounts/premiums     388 132  
Noncash operating lease expense     1,710 1,335  
Amortization of finance lease right-of-use asset     90 90  
Loss on sales of investment securities     0 243 $ 0
Earnings on cash surrender value of life insurance     (1,746) (765)  
Mortgage loans originated for sale     (50,301) (31,868)  
Proceeds from sales of mortgage loans originated for sale     38,806 34,098  
Gain on sale of mortgage loans     (1,432) (1,267)  
SBA loans originated for sale     (3,111) (1,783)  
Proceeds from sales of SBA loans originated for sale     3,301 1,903  
Gain on sale of SBA loans     (190) (120)  
Gain on sale of property, plant, and equipment     0 (10)  
Loss/(gain) on sale or write-down of foreclosed assets 4 0 495 (28)  
Discount on subordinated debt     0 (307)  
Accretion of loan fair value marks     4,293 2,882  
Restricted stock compensation expense     1,413 544  
Stock option expense     1,208 3,364  
Deferred income tax expense     2,115 1,451  
Increase in accrued interest receivable     307 571  
Increase in other assets     8,055 4,586  
Increase/(decrease) in accrued interest payable     1,105 (92)  
Increase in operating lease liability     805 4,928  
Increase in other liabilities     850 2,310  
Net Cash Provided By Operating Activities     46,835 46,748  
Investing Activities:          
Proceeds from the maturity or call of available-for-sale securities     50,596 19,430  
Purchases of available-for-sale securities     (138,770) (155,899)  
Proceeds from the maturity or call of held-to-maturity securities     19,785 18,295  
Purchases of held-to-maturity securities     (45,435) 0  
Redemption of restricted investment in bank stock     11,782 8,962  
Purchases of restricted investment in bank stock     (19,927) (8,611)  
Net cash received from acquisitions     162,829 218,112  
Net (increase)/decrease in loans     (174,668) 2,276  
Purchases of bank premises and equipment     (2,593) (4,483)  
Proceeds from the sale of premises and equipment     0 120  
Proceeds from the sale of foreclosed assets     209 72  
Proceeds from bank-owned life insurance     2,022 444  
Net change in investments in tax credits and other partnerships     1,113 1,202  
Net Cash (Used in)/Provided by Investing Activities     (133,057) 99,920  
Financing Activities:          
Net (decrease)/increase in deposits     (8,277) 139,977  
Common stock dividends paid     (11,858) (8,527)  
Proceeds from Employee and Director Stock Purchase Plan stock issuance     365 308  
Treasury stock purchased     (2,710) (1,778)  
Net change in finance lease liability     (75) (72)  
Proceeds from short-term borrowings     658,667 0  
Repayment of short-term borrowings     (542,000) (2,000)  
Long-term debt repayment     (20,162) (157)  
Subordinated debt redemption     0 (8,131)  
Cash paid in lieu of fractional shares     0 7  
Net Cash Provided by Financing Activities     73,950 119,613  
Net (decrease)/increase in cash and cash equivalents     (12,272) 266,281  
Cash and cash equivalents, beginning of period     98,918 70,564 70,564
Cash and cash equivalents, end of period $ 86,646 $ 336,845 86,646 336,845 $ 98,918
Supplemental Disclosures of Cash Flow Information:          
Cash paid for interest     58,856 61,112  
Cash paid for income taxes     758 399  
Supplemental Noncash Disclosures:          
Recognition of operating lease right-of-use assets     65 2,322  
Recognition of operating lease liabilities     65 2,322  
Loans transferred to foreclosed assets held-for-sale     1,288 9,816  
Common Stock issued to Cumberland Advisors and 1st Colonial Shareholders     2,238 0  
Fair value of assets acquired in business combinations, excluding cash [1],[2]     756,794 688,669  
Goodwill recorded [1],[2]     20,391 7,313  
Fair value of liabilities assumed in business combination [1],[2]     753,509 630,181  
Fair value of shares issued in business combination [1],[2]     $ 71,853 $ 103,213  
[1] Includes the impact of the William Penn acquisition on April 30, 2025 and the Charis Insurance Group acquisition on May 12, 2025. See "Note 2 - Business Combinations" to the Consolidated Financial Statements for more information.
[2] Includes the impact of the 1st Colonial acquisition on February 27, 2026 and the Cumberland Advisors acquisition on January 1, 2026. See "Note 2 - Business Combinations" to the Consolidated Financial Statements for more information.